PalmOilMagazine, JAKARTA - It is admitted or not, Pakistan is one potential country to trade palm oil from Indonesia. The consumption reached 20 kg per capita within the total vegetable oil consumption reaching 4,4 million tons.
Unfortunately, Chief Executive Officer Westbury Group of Companies, Rasheed Janmohammed said, the local vegetable oil production is still low in number, about 0,5 million ton. This forced Pakistan import soybean oil about 3 million tons, import extracted oil from seeds about 0,80 million ton.
Janmohammed as Chairman of Edible Oil Refiners Association (PEORA) said that in Pakistan, vegetable oil import tax is comprehensive. Unfortunately the policy should not run to domestic vegetable oil products because the import tax policy could increase the domestic vegetable oil production.
“As a matter of fact, there was no increasing imports and tax created or precisely multiplied the costs to domestic use,” he said in virtual Indonesia Palm Oil Conference (IPOC) 2020 New Normal which PalmOilMagazine did attend in the early of December 2020. (T2)
For more, please go to PalmOilMagazine, December 2020
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